Investment Fund of Organization of Turkic States established

Bishkek, July 6, 2022. /Kabar/. The Investment Fund of the Organization of Turkic States (OTS) has been established, the press service of the Ministry of Economy of Kyrgyzstan reported. Within the framework of implementation of agreements, reached by heads of states of OTS on creation of the Organization’s Investment Fund, Turkey’s Istanbul is hosting on July 5-6 regular meetings of senior officials, following the results of which it is planned to complete the draft Agreement on the establishment of the OTS Investment Fund. The authorized capital of the Fund is USD 350 million, which will be formed in equal shares by member states of the Organization of Turkic States (Kyrgyzstan, Kazakhstan, Turkey, Azerbaijan, Uzbekistan). The purpose of this Investment Fund is to promote the economic development of the OTS member states by expanding intraregional trade and supporting economic cooperation. The delegation of Kyrgyzstan is headed by Deputy Minister of Economy and Commerce Kanat Abdrakhmanov. As a result of the meetings, the sides will develop and agree on the relevant draft Agreement, which will be sent for intra-state procedures in preparation for the signing of the Agreement.